International News
MCX silver prices rally amid escalating US-Venezuela tensions
Geopolitical Shock and Supply Fears Ignite Silver’s Sharp Rally Across Global and MCX Markets
Silver rates today on MCX opened with a big upside gap and touched an intraday high of Rs. 2,49,900 per kg, logging an intraday rise of around 13,500 against Friday’s close of Rs. 2,36,316 per kg. Silver saw a 6% gain internationally at $75.968 per ounce This surge reflects safe-haven demand and fears of supply disruptions.
Silver opened with an upside gap due to anticipated export hurdles from Peru, a top silver ore exporter ($477M in 2023). Recent trends show silver rising 30% monthly and 152% yearly, fueled by green energy demand and supply constraints. Experts predict COMEX silver could reach $78 per ounce before profit-booking\Support levels stand at $70–$68, with upside potential to $80 if tensions persist.
The crisis reached a dramatic peak last week when US forces launched a large-scale strike on Venezuela, resulting in the capture of President Nicolás Maduro and his wife, Cilia Flores. President Donald Trump announced the operation’s success on Truth Social, describing it as a joint military and law enforcement effort that swiftly removed the leaders from the country.
The raid followed months of mounting pressure, including prior strikes on alleged drug-trafficking vessels and a buildup of US forces in the region. Maduro, now in US custody and facing narco-terrorism charges, is expected in a New York court soon, while Venezuela’s vice president has assumed interim leadership amid ongoing uncertainty.
International News
India-UAE Jewellery Dialogue Draws 200+ Stakeholders, Reinforces Trade Confidence
GJEPC and UAE Leadership Reaffirm Commitment To Market Resilience and “Business Beyond Borders.”

- The India-UAE Gems & Jewellery Dialogue -Boosting Confidence, held on 2 April 2026 at Taj Business Bay, Dubai, saw strong industry participation, underscoring continued optimism in bilateral trade. The event was organised under the patronage of the Embassy of India in the UAE, the Consulate General of India in Dubai, and the GJEPC.
The high-level gathering brought together over 200 stakeholders across the jewellery value chain, including manufacturers, retailers, wholesalers, and policymakers from both countries. Among the dignitaries present were H.E Mohammed Ali Rashed Lootah, President & CEO Dubai Chamber, H.E. Ahmed Al Khaja, CEO Dept of Economy & Tourism, H.E. Jumal Al Kait, Asst Undersecretary Ministry of Foreign Trade, Tawhid Abdullah, Chairman Dubai Jewellery Group. Speakers highlighted the resilience of the UAE’s jewellery ecosystem and pointed to expanding opportunities for integration with Indian manufacturers.

Delivering the keynote, H.E. Dr Deepak Mittal, the Ambassador of India to the UAE, reaffirmed the Government of India’s continued support for the sector and emphasised the UAE’s strategic importance as a partner under the India-UAE Comprehensive Economic Partnership Agreement (CEPA).
Hon’ble Consul General Satish Kumar Sivan stressed the need for unity and confidence within the trade amid shifting global dynamics. In his welcome address, Mr Sabyasachi Ray, Executive Director, GJEPC, outlined GJEPC’s focus on strengthening exports and deepening engagement across the GCC through collaborative initiatives.
Key discussions reaffirmed the strength of India-UAE trade ties in gems and jewellery, sustained confidence in the UAE market despite global uncertainties, and the need for closer coordination between government, trade bodies, and industry. Participants also recognised the India Jewellery Exposition Centre (IJEX) as a critical platform enabling market access in the region.
The dialogue concluded with a shared commitment to deepen cooperation, strengthen trust, and drive growth in bilateral jewellery trade, with GJEPC reiterating its focus on facilitating “Business Beyond Borders.”
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